Professor Greg Mankiw: If You Value Individual Liberty, then Protect, Promote, and Preserve Competition Between Governments

Professor Greg Mankiw: If You Value Individual Liberty, then Protect, Promote, and Preserve Competition Between Governments

Other than my experiment dealing with corporate taxation, the first video I narrated for the Center for Freedom and Prosperity dealt with the issue of tax competition.

It was a deliberate choice because I view competition among governments as one of the few effective restraints on the greed of the political class.

Simply stated, in the absence of competitive pressure, politicians will over-tax and over-spend until the welfare state collapses of its own weight. Some of them self-destruct anyhow because sometimes politicians can’t resist myopic...